4 Must-Have Functionalities of Modern-Day Telecom Billing Software
Accounting

4 Must-Have Functionalities of Modern-Day Telecom Billing Software

4 Must-Have Functionalities of Modern-Day Telecom Billing Software

A billing system forms the crux of a telecom operation and is deemed very important for telcos. A quality telecom billing system ensures quick monetization and launch of services, captures usage systematically and generates invoices. As the scope of telecom services increases, the significance of telecom billing software is growing concurrently. New requirements are posed by the launch of cutting-edge tech like 5G and IoT. Hence, the demand for a competent billing solution is on the rise.

The Need of the Hour in the Telecom World

A comprehensive telephone billing software that encompasses the requirements of present and future tech has become the need of the hour. Telcos can’t go chasing around for new software or spending vast sums on customizing their present software whenever a new tech is launched. Therefore, it is necessary to invest in telecom billing software that covers the emerging requirements proactively. Below are 4 essential features/functionalities of such software:

  1. Should come with APIs – As the cost of overhauling or customizing a new telecom billing software is high, it is a wise decision to invest in a software that comes with APIs. Application Program Interface (API) allows for new functionalities without any need for customization. It is possible to integrate new databases like NLAD and utilize pre-existing vendor partnerships like payment gateways. APIs can be launched via clients’ computer and they connect directly to the service provider. Telgoo5 is an excellent provider of telecom billing software with multiple APIs, each suitable for a unique business use case.
  2. Billing system with codes – The telephone billing software should have codes for different telecom services like data, voice calls, messaging, streaming services etc. A unique service code for each transaction makes it easy to categorize different services and streamlines the billing process. Also, codes help you in figuring out the interest of subscribers in a particular service and let you build service offerings that are catered to their taste.
  3. Complete convergence – Convergence in billing is probably the most important requirement of a modern-day telecom billing system. A centralized charging platform that charges all services (prepaid/postpaid) at a single point helps in the creation of a completely convergent system. It becomes easy to bill all services in a single invoice and promote transparency in billing, which is very important for garnering customer trust.
  4. Security and safety – As a telecom billing system keeps all customer related usage information as well as their personal records, it becomes vital to keep it safe and secure. A cloud-based telecom billing software solution like Telgoo5 is bolstered with cutting-edge encryption and has additional PCI security for safe online payment transactions. Also, as this billing system saves data at multiple datacenters, it prevents data loss due to natural or human-inflicted disasters.

Conclusion

While procuring the latest telecom billing software solution is on top of the wish list of many telcos, rushing into a decision is not advisable. It is essential to figure out certain key points that will help you in the longer run. Always ensure that the software you invest in has APIs, offers convergence and is completely safe and secure. Using the services of Telgoo5 is an instant solution to operators’ woes and offers the aforementioned functionalities and a lot more.

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Accounting